Bank of Japan lowers inflation forecasts again
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[TOKYO] Japan's central bank revised down inflation forecasts again on Wednesday, in the latest sign that it has made little headway towards its 2.0 per cent target despite years of massive monetary easing.
The Bank of Japan left that easing programme in place, as expected, and slightly lowered the inflation forecast for the fiscal year ending March 2019 to 0.9 per cent from 1.1 per cent.
The revision, in a quarterly report issued after a two-day meeting of the central bank, comes after it earlier this year dropped a 2020 target for the long-standing 2.0 per cent goal.
